IF IT FEELS LIKE CRYPTO TRADING IS CRAZY -- IT IS -- SOME HELP FOR YOU! (FOR FREE) -- Make money...
I am going to reveal some secrets about myself when I got started in 2013 by buying cryptocurrency.
Things were much worse back in 2013 than they are 2018. If things seem confusing now, you should have walked in my shoes 5 years ago.
I learned some hard (and expensive lessons) back then...
To my followers, I give this free advice to you. Maybe I'll help you from making the same mistakes.
WARNING: IF any of you get lucky and rich from my honesty and if you become a multi-billionaire.. please remember me. :)
Simple things, like how to install a Bitcoin wallet, and understanding how it worked, blew my mind. Learning how to turn $100 fiat cash in my pocket into a number on my screen wasn't easy.
My first reaction is.. who in a sane mind would take $100 guaranteed paper money and give it to someone else, and then get $100 worth of numbers of digital currency on a screen? This does not make sense!
Everyone else was doing it, and I was very computer literate, and I heard other people were making money, so I said sure.. I'll put in $100 and see what happens.
I remember the first time I opened my Bitcoin wallet. I had 0 bitcoins. If I wanted Bitcoins, there was a local website in my country that said "go to this bank. Deposit your $100 into my account. Send an email that the deposit was completed, and you will get your Bitcoin"
Eagerly, I wrote down all of the information and I ran to the nearest Bank. The teller didn't recognize me, and I said "I'd like to deposit $100 into this account number, with this name as the owner of the account".
She did the transaction, and gave me a receipt. That was easy.
I rushed home, and then began to panic. Who did I just give $100 to? Is this real? What if I am cheated?
(Remember this was Bitcoin trading 2013)
About 45 minutes later, I got a message on my computer. "DEPOSIT RECEIVED. You received 0.87 BTC"
Now I was on a Bitcoin Exchange. I no longer have $100 but I have 0.87 BTC. I logged in and looked at the charts. Bitcoin kept going up and down like a YOYO toy or roller coaster. Every few minutes my 0.87 was worth $102 or $92. This is crazy...
I didn't learn how to trade the stock exchange in school. I didn't know how this all worked.
All I know is that is that I put in $100 and if I wasn't careful, I'd soon have $92. But how would I ever pull it back out again?
So I did some research and reading. I started to learn how to place an order, and how to sell an order. It seemed easy enough. I watched carefully and watched how the YOYO was moving.
"This is a good time to sell my Bitcoin" I thought. The price is $110 and I saw it at $92 before. So I placed my sell order and boom. I no longer had 0.87 BTC. Instead, I had $110
I sat there and realized.. I just made $10 in one second of trading!! This is fun!
In 2013 in my country, people would work a whole hour to make $10. I just made the same amount in one second.
I was super happy. I didn't do anything else after that and just sat there proud of myself.
I didn't know how to get my money back at that point, but I wasn't ready to.. if I could make $10 in one second, surely I could make $20 in 2 seconds? Who knows?
I waited for the trading charts to continue moving for the next hour, and I found another opportunity. I placed a bid to sell my $110 USD for 1.02 BTC
Soon as I pushed the SELL button, the market reversed on me. No one bought it. My order sat there and the market started going down again!
DARN IT. I spent a whole hour at watching the way it worked. I was already ahead $10, now I'm losing money!
...
So I re-placed a bid to buy BTC at $100 (in 2013) again. My order got filled. I had 0.864 BTC now. Less than the 0.87 I started out with..
HEY! Why do I have less? I did more research and learned "the exchange takes a small percentage for trading fees". Oh I didn't know until it happened ARGH!
I then realized.. I have no idea what I'm doing. Why could the price of Bitcoin jump up and down so fast?
Then I looked at the exchange website I was on. It was called BTC-E and it had a chatbox.
I quickly typed into the chat...
"Do you think Bitcoin is going up again?"
I got multiple answers back "NO!! Bitcoin is going down! sell! sell! sell!"
I then ran from that chat and put an order in to sell my 0.864 BTC for $98 USD. My order got filled
But what those guys said in chat was wrong! - Instead Bitcoin went up to $125! Why did I sell at $98 if they said Bitcoin was going down for sure? They told me to sell!
I'm not going to bore you with the details... but by now you might have guessed, I was tricked in 2013 by troll box chats.
When they said Bitcoin was going down, and I sold, the experienced traders said that so I'd sell cheaper Bitcoin that they could buy.
In simple terms...
Whatever they were hyping or dumping seemed to be the opposite of what I should do. All I was doing by listening to them was feeding the hungry sharks that wanted my bitcoin.
I lost over $500 trying to learn how to be an expert trader the hard way.
Until I learned one lesson. ...and this lesson will help you...
When someone says something is going UP or DOWN it means this:
(1) If they say it's going UP, it means they are already bought in, own it, and need you to buy it too to help make it go up
(2) if they say it's going DOWN, it means they have already sold all of theirs, they own none, and need you to sell yours cheap so they can buy what you're selling under price.
It's been a long road over the years to realize... the only person you have to blame (or praise) for losing or gaining money by cryptocurrency trading is yourself. Don't listen to other people in chat. Don't buy what the headlines in the newspaper or traditional media says.
Decide for yourself. After watching and learning. Should you buy now? Should you sell now? or should you make your trading decisions based on what someone else says?
If I would have read a blog article like this long time ago, I could have saved myself $500
The fine print:
Note to experienced traders: It seems like I'm giving away important secrets for free. But listen. We need more experienced traders who are into cryptocurrency to stop dumping their coins everytime a news article comes out that scares people. Cryptocurrency right now is at a pivot point. News is trying to scare everyone and the market is reacting to news in such a silly way. This is the only reason Bitcoin isn't worth $50,000 right now and ETH, STEEM, EOS, BTS or any other coin isn't worth 10x what you currently see on coinmarketcap. The news is hurting cryptocurrency, so we need to help new traders to realize, it's only FUD and NOT nearly as significant as it claims to be...